Streetbeat News

Labor Issues

SPY

U.S.-based employers announced 36,836 job cuts in October, a 9% increase, according to Challenger Gray.

Portfolio Pulse from Charles Gross

November 02, 2023 | 11:34 am

EWG

Germany's unemployment rate for October remained steady at 5.8%, matching estimates but slightly higher than the previous month's 5.7%.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 8:58 am

EWG

Germany's unemployment change for October was reported at 30K, which is higher than the estimated 15K and the previous month's 10K. This could potentially impact the performance of the iShares MSCI Germany ETF (EWG).

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 8:57 am

GOOG

GOOGL

Google has reportedly laid off several data scientists from its voice assistant team. The exact number of affected employees is undisclosed, but internal documents suggest that as many as 20 independent contributors were laid off. Affected staff have been given a 60-day period to find a new role within the company or face termination. This follows Google's restructuring plan earlier this year, which involved the layoff of 12,000 employees and strategic cuts across different divisions.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 4:24 am

GOOG

GOOGL

Google (NASDAQ:GOOGL) (NASDAQ:GOOG) has laid off several data scientists from its voice assistant team as part of a restructuring plan. The exact number of affected employees is undisclosed, but internal documents suggest up to 20 independent contributors were laid off. Affected staff have been given a 60-day period to find a new role within the company or face termination. Earlier this year, Google commenced a restructuring plan involving the layoff of 12,000 employees and strategic cuts across different divisions.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 4:23 am

AAPL

MSFT

Apple Inc. has paused its internal Slack channels for Muslim and Jewish employees after removing posts related to the Israel-Hamas conflict. The decision was communicated by a leader of Apple’s Muslim employee resource group. The specific content of the deleted messages remains unconfirmed. Apple CEO Tim Cook has remained relatively quiet about the Israel-Hamas conflict. Microsoft Corporation also faced internal discussions related to the Israel-Hamas conflict, which were shut down after approximately 60 comments.

Portfolio Pulse from Ananya Gairola

November 02, 2023 | 4:12 am

F

GM

STLA

TM

Toyota Motor Corp (NYSE:TM) plans to increase wages for its nonunion U.S. factory workers by approximately 9% from January 1. This follows the United Auto Workers (UAW) union securing pay and benefit increases from General Motors Co (NYSE:GM), Ford Motor Co (NYSE:F), and Stellantis NV (NYSE:STLA). The wage hike is aimed at ensuring Toyota's competitiveness within the auto industry.

Portfolio Pulse from Anan Ashraf

November 02, 2023 | 3:54 am

AFL

Frederick Crawford, the President and Chief Operating Officer of Aflac, will retire effective September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 9:02 pm

INFA

Informatica has announced a restructuring plan that will reduce its global workforce by 10%. This is a direct result of its cloud-only, consumption-driven strategy announced in January 2023. The company expects no impact to its full-year 2023 guidance.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:30 pm

CWST

Casella Waste Systems, Inc. (NASDAQ:CWST) has announced the hiring of Bradford J. Helgeson as the new Executive Vice President & Chief Financial Officer, effective November 6, 2023. Helgeson previously served in the same role at Covanta Holding Corporation for over eight years. The move is part of Casella's succession planning, allowing current President & CFO, Edmond 'Ned' R. Coletta, to focus solely on his role as President.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:11 pm